Beam Therapeutics Inc. (NASDAQ:BEAM) Position Boosted by China Universal Asset Management Co. Ltd.

China Universal Asset Management Co. Ltd. lifted its stake in shares of Beam Therapeutics Inc. (NASDAQ:BEAM) by 325.5% during the 4th quarter, HoldingsChannel.com reports. The firm owned 9,667 shares of the company’s stock after buying an additional 7,395 shares during the quarter. China Universal Asset Management Co. Ltd.’s holdings in Beam Therapeutics were worth $263,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Point72 Middle East FZE bought a new position in shares of Beam Therapeutics during the fourth quarter worth about $35,000. Allworth Financial LP lifted its holdings in Beam Therapeutics by 163.7% in the third quarter. Allworth Financial LP now owns 1,105 shares of the company’s stock worth $27,000 after acquiring an additional 686 shares during the last quarter. Canada Pension Plan Investment Board bought a new position in Beam Therapeutics in the first quarter worth about $86,000. Penserra Capital Management LLC bought a new position in Beam Therapeutics in the first quarter worth about $97,000. Finally, Captrust Financial Advisors lifted its holdings in Beam Therapeutics by 29.9% in the first quarter. Captrust Financial Advisors now owns 1,845 shares of the company’s stock worth $106,000 after acquiring an additional 425 shares during the last quarter. Institutional investors own 99.68% of the company’s stock.

Insider Buying and Selling

In related news, CFO Terry-Ann Burrell sold 5,446 shares of the business’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $32.12, for a total transaction of $174,925.52. Following the completion of the sale, the chief financial officer now directly owns 70,137 shares of the company’s stock, valued at $2,252,800.44. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other Beam Therapeutics news, CFO Terry-Ann Burrell sold 5,446 shares of the company’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $32.12, for a total value of $174,925.52. Following the completion of the sale, the chief financial officer now owns 70,137 shares of the company’s stock, valued at $2,252,800.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO John M. Evans sold 60,000 shares of the stock in a transaction on Wednesday, January 31st. The stock was sold at an average price of $25.33, for a total transaction of $1,519,800.00. Following the sale, the chief executive officer now directly owns 1,058,262 shares of the company’s stock, valued at approximately $26,805,776.46. The disclosure for this sale can be found here. Insiders sold a total of 156,804 shares of company stock valued at $4,731,669 over the last ninety days. Insiders own 4.40% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on BEAM. JPMorgan Chase & Co. raised shares of Beam Therapeutics from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $38.00 to $40.00 in a report on Monday, January 29th. Wedbush restated an “outperform” rating and issued a $57.00 price target (up previously from $48.00) on shares of Beam Therapeutics in a research note on Tuesday, February 27th. Bank of America lowered shares of Beam Therapeutics from a “buy” rating to a “neutral” rating and set a $35.00 price target on the stock. in a research note on Friday, December 15th. Jefferies Financial Group restated a “hold” rating and issued a $30.00 price target (down previously from $75.00) on shares of Beam Therapeutics in a research note on Friday, December 8th. Finally, Royal Bank of Canada raised their price target on shares of Beam Therapeutics from $27.00 to $35.00 and gave the company a “sector perform” rating in a research note on Wednesday, February 28th. Eight equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, Beam Therapeutics has a consensus rating of “Hold” and a consensus price target of $41.00.

Beam Therapeutics Trading Down 2.9 %

Shares of BEAM stock opened at $28.20 on Friday. Beam Therapeutics Inc. has a 1 year low of $16.95 and a 1 year high of $49.50. The firm’s 50 day moving average is $33.13 and its 200-day moving average is $27.85. The firm has a market capitalization of $2.30 billion, a price-to-earnings ratio of -14.84 and a beta of 1.77.

Beam Therapeutics (NASDAQ:BEAM) last posted its quarterly earnings results on Tuesday, February 27th. The company reported $1.73 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.69) by $2.42. The business had revenue of $316.20 million during the quarter, compared to the consensus estimate of $34.16 million. Beam Therapeutics had a negative net margin of 35.09% and a negative return on equity of 15.90%. Beam Therapeutics’s revenue for the quarter was up 1481.0% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.54) earnings per share. On average, equities research analysts forecast that Beam Therapeutics Inc. will post -5.5 earnings per share for the current fiscal year.

Beam Therapeutics Company Profile

Beam Therapeutics Inc, a biotechnology company, engages in the development of precision genetic medicines for patients suffering from serious diseases in the United States. It develops BEAM-101 for the treatment of sickle cell disease or beta-thalassemia; and BEAM-302, a liver-targeting LNP formulation to treat severe alpha-1 antitrypsin deficiency; BEAM-201, an anti-CD7 CAR-T product candidate, which is in Phase 1/2 clinical trials for the treatment of refractory T-cell acute lymphoblastic leukemia/T cell lymphoblastic lymphoma; and BEAM-301, a liver-targeting LNP formulation for the treatment of glycogen storage disease 1a.